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TheStreet Open House

GE’s Record Jet Engine Agreements At Dubai Air Show

Stocks in this article: GE

Selected earlier this year to power the Boeing 777X, the GE9X will feature several technology breakthroughs, including aviation’s largest-diameter front fan and highest pressure-ratio compressor, and unique ceramic matrix composite, hot-section components.

ETIHAD:

Etihad Airways selected GE engines to power its order for 56 Boeing wide-body aircraft. The order includes a commitment for 25 GE9X-powered Boeing 777X, 30 GEnx-1B-powered Boeing 787-10, and one GE90-115B-powered Boeing 777-200LR aircraft. The list price for these engines is valued at more than $3 billion (USD).

Etihad Airways has also agreed to 15-year OnPoint SM solution agreements to cover all the engines in this order. The OnPoint solution agreements are valued at $8 billion over the life of the contract.

“This order demonstrates Etihad Airways’ commitment to operating one of the most technically advanced and fuel efficient fleets in the industry, now and in the future,” said James Hogan, Etihad Airways’ president and chief executive. “Our business succeeds by establishing long term strategic partnerships to ensure we can offer our customers the best. This deal allows us to do that.”

“We are honored Etihad has selected GE to play a significant role in the airline’s expansion efforts,” said David Joyce, president and chief executive officer of GE Aviation. “GE’s wide-body engine strategy builds on the solid foundation that we began with our GE90 engines, was advanced with new technologies in the outstanding GEnx and will evolve further with the new GE9X engine, which will be the largest fan diameter and most fuel efficient engine GE has ever designed and manufactured.”

QATAR:

Qatar Airways ordered 50 GE9X-powered Boeing 777X aircraft. List price for these engines is valued at $3.8 billion (USD).

“Qatar Airways continues its rapid growth and GE is proud to play a significant role in the expansion with this order for GE9X-powered Boeing 777X aircraft,” said David Joyce, president and chief executive officer of GE Aviation. “The new GE9X engine will be the largest and most fuel efficient engine GE has ever designed and manufactured and the rising number of orders for the engine-aircraft combination serve as a testament to the confidence our customers have in the product.”

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